The future of Citgo and its three US refineries hangs on this weekend's deadline for the interim Venezuelan government to make a massive bond payment that it can't likely pay.
The Guaido administration's ad-hoc PDVSA board could lose control of Citgo because the loan is backed by a 50.1% stake in the US refiner.
The US government signaled this week that it may intervene to prevent that from happening if negotiations between PDVSA and the bondholders break down.
To understand what's at stake if PDVSA misses this payment and what options the US is considering, we spoke with:
- Carrie Filipetti, US State Department deputy assistant secretary for Cuba and Venezuela
- Alejandro Grisanti, director of ad-hoc PDVSA board and Guaido debt adviser
- Francisco Monaldi, fellow in Latin American energy policy at the Baker Institute
Related content
US weighs options to stop interim Venezuela government from losing Citgo